HDFC Bank has increased its marginal cost of funds-based lending rates (MCLR) by 5 basis points for certain tenures. The new rates are effective from

HDFC Bank has increased its marginal cost of funds-based lending rates (MCLR) on two tenures by up to 5 basis points (bps). As a result, HDFC Bank's MCLR interest rates will now range from 9.10% to 9.

Private sector lender HDFC Bank has hiked its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) on six-month and one-year tenure to 9.45 per cent and 9.50 per cent, respectively, making loans costlier for borrowers of the bank. The lender has left MCLR on other tenures unchanged, in the range of 9.10 per cent-9.50 per cent.

The Marginal Cost of the Fund-Based Lending Rate or the MCLR is the minimum interest rate that a financial institution needs to charge for a specific loan. After the revision, HDFC Bank MCLR interest rates will now range between 9.